Input Output Global (IOG) has launched a $4.5 million blockchain research hub at the University of Edinburgh. The initiative is part of Cardano’s mission to set up research centers in universities across the world to help develop the blockchain industry.
IOG Launched a $4.5 million Blockchain Research Hub At Edinburgh University
Input Output Global (IOG), developers of the Cardano (ADA) blockchain, is funding $4.5 million to build a blockchain research hub at the University of Edinburgh. The Input Output Global Research Hub is a joint initiative between the University and IOG to improve scientific understanding and set new standards for research within the blockchain industry. The facility will also help promote development of applications on Haskell, the programming language Cardano is built on.
The Cardano developer had previously established a Blockchain Technology Laboratory within the university’s School of Informatics. The lab headed by Professor Aggleos Kiayias, Chair in Cyber Security and Privacy at the Edinburgh University, focuses on collaborating academics and industry experts to research on a broad range of topics related to blockchain technology like cryptography and computer science, economics, law, game theory, regulation and compliance, and business.
“IOG has been working with the University of Edinburgh for some time, and I’m thrilled that this new research hub will let us continue to advance our industry. Working with leading institutions like Edinburgh to set up these blockchain research hubs is essential to our vision of making academic rigor an industry standard,” said Charles Hoskinson, founder of Cardano and CEO of IOG.
This follows IOG’s launch of another blockchain research center at Stanford University. Apart from providing funding for the $4.5 million research hub that will be headed by cryptography professors Dan Boneh and David Manzieres, Cardano also donated $500,000 to Stanford’s research on blockchain scalability. Last year, Hoskinson donated $20 million to Carnegie Mellon University to establish the Hoskinson Center for Formal Mathematics which aims to improve mathematical research by improving global access to knowledge and resources for math researchers, educators and learners. Headed by Jeremy Avigad, professor of Mathematical Sciences at the university, the center will also launch a mathematics digital library making the subject accessible to a broader community.
Rather than using the research hub for the development of its own blockchain protocol, IOG sees the centers as a platform to contribute to the overall development of blockchain technology and the crypto industry.
“Healthy competition is a vital part of any growing industry, but especially in its early days, every player also needs to play its part in growing the space as a whole. Researchers at the university will be able to put forward innovative projects that will impact the blockchain industry,” said Tim Harrison, VP of Community and Ecosystem at IOG.
In addition to the University of Edinburgh and Stanford University, IOG has opened blockchain research labs at University of Wyoming, University of Athens and Tokyo Institute of Technology. The facility at Edinburgh serves as the headquarters for Cardano’s blockchain research initiative. Before building the public blockchain and smart-contract protocol Cardano, Hoskinson was heading the Bitcoin Education Project where he was introduced to Vitalik Buterin and Gavin Wood. The trio developed the Ethereum blockchain together.
At the time of writing, Cardano’s native ADA token is trading at $0.32, up 0.12% in the last 24 hours.